Federal Signal reports Q1 adjusted EPS 76c, consensus 73c

Reports Q1 revenue $464M, consensus $462.63M. “With our teams’ continued focus on operational execution and serving our customers, our businesses were able to deliver 9% year-over-year net sales growth, double-digit operating income improvement, gross margin expansion, and a 170-basis point increase in adjusted EBITDA margin during the first quarter,” commented Jennifer Sherman, President and Chief Executive Officer. “Our Environmental Solutions Group delivered 9% year-over-year net sales growth and a 17% increase in adjusted EBITDA. Production increases at several of our businesses, higher sales of our aftermarket offerings, proactive management of price/cost dynamics, and contributions from recent acquisitions were meaningful year-over-year growth drivers. Our Safety and Security Systems Group also delivered impressive results, with 8% top-line growth and an adjusted EBITDA margin of 22%. Demand for our products and aftermarket offerings remains strong, with our order intake this quarter representing the highest quarterly orders in our history, contributing to a record backlog of $1.10 billion at the end of the quarter.”